TSL: Annual Report to shareholders
Original announcement by asx on
- Company
- Titanium Sands Limited
- Ticker
- TSL
- Exchange
- ASX
- Region
- Sri Lanka
- Primary commodity
- Heavy minerals
- Secondary commodities
- Ilmenite, Leucoxene, Rutile, Zircon, Garnet
- Document categories
- Resource update, Other
- Extracted
- 2026-09-30 04:26:30 UTC
Analysis by Minestarters Atlas
Atlas analysis published:
Minestarters Atlas analysis
Summary
Titanium Sands Limited's annual report for the year ended June 30, 2026, details a net loss of $1.66 million and highlights a material uncertainty regarding its ability to continue as a going concern, dependent on securing additional funding. The report reiterates historical Mineral Resource Estimates for the Mannar Island Heavy Mineral Sands Project in Sri Lanka, originally announced in March 2023, which include 318 Mt at 4.17% THM (2% cut-off) and a higher-grade zone of 82 Mt at 6.03% THM (3% cut-off). The company also reports progress on regulatory approvals, with the Environmental Impact Assessment expected to be submitted by October 2026.
Reasoning: This annual report primarily covers financial results and corporate governance, reporting a net loss and a going concern warning. While it reiterates historical JORC-compliant resource estimates from March 2023, these are not new information. Regulatory progress on the Environmental Impact Assessment is noted.
Positive factors
- JORC Compliant
- QP/CP Signed
- Regulatory progress
Negative factors
- Going Concern Warning
- Historical Estimate Only
- Net loss for the year
- Negative cash flow from operations
Low confidence — this extraction should be reviewed alongside the original source.
Facts used in scoring: 16
Classification and evidence
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: The Mineral Resource Estimate is stated to be JORC 2012 compliant.
Evidence · text
“A complete JORC2012 compliant statement of this MRE is contained in 3ASX Announcement 15/3/2023.”
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: Exploration and technical information, including the MRE, has been reviewed and compiled by James Searle, a Competent Person and Member of the Australian Institute of Mining and Metallurgy.
Evidence · text
“exploration and technical information above have been reviewed and compiled by James Searle BSc (hons), PhD, a Competent Person who is a Member of the Australian Institute of Mining and Metallurgy”
Regulatory progresspositive · Story-specific tag
No canonical definition is currently available.
Why it applies: The company has made progress on the Environmental Impact Assessment (EIA), with all components completed and expected to be submitted by October 2026.
Evidence · text
“All components of the EIA are complete and are being compiled and are expected to be submitted to the Central Environment Agency in October 2026.”
Going Concern Warningnegative · Story-specific tag
No canonical definition is currently available.
Why it applies: The financial statements include a material uncertainty regarding the Group’s ability to continue as a going concern, dependent on securing additional funding.
Evidence · text
“These conditions indicate a material uncertainty that may cast a significant doubt about the Group’s ability to continue as a going concern”
Historical Estimate Onlynegative
Estimate pre-dates or does not comply with current JORC/NI 43-101 standards — requires verification drilling.
Why it applies: The Mineral Resource Estimates presented in the report were completed in March 2023 and are being re-presented without new information.
Evidence · text
“A mineral resource estimate (MRE) was completed in (Table 1) March 2023 (3ASX Announcement 15/3/2023).”
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: A significant portion of the reported resource (98.4 Mt at 5.27% THM) is classified as Inferred.
Evidence · table
“Inferred”
Context: 98.4
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: A portion of the reported resource (88.7 Mt at 5.45% THM) is classified as Indicated.
Evidence · table
“Indicated”
Context: 88.7
Extracted facts
Stored fact records: 16. Some facts used in scoring do not have a stored record.
Resource Estimates (16)
Fact 1Mannar Island Project · heavy mineralsTonnes: 318000000Grade: 4.17Grade Unit: %Historical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Mannar Island Project
- Commodity
- heavy minerals
- Region
- sri lanka
- Reported Region
- Sri Lanka
- Ticker
- TSL
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- James Searle
- Resource group id
- resource:0b7dc1f14cfdc116ceed
Resource Data
- Tonnes
- 318000000
- Grade
- 4.17
- Grade Unit
- %
- Cutoff Grade
- 2
- Cutoff Unit
- % THM
Prior Estimate
- Resource Date
- 2023-03-15
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2023-03-15T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This is a historical total resource estimate from March 2023, presented without new information.
Positive factors
- JORC Compliant
- QP/CP Signed
Negative factors
- Historical Estimate Only
Evidence · text
“Based on a 2% THM (Total Heavy Mineral) lower cut-off grade the MRE stands at 318 Mt at 4.17% THM.”
Tags used in scoring
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 3.5 years before this release
indicatedMannar Island Project · heavy mineralsTonnes: 88700000Grade: 5.45Grade Unit: %Historical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Mannar Island Project
- Commodity
- heavy minerals
- Region
- sri lanka
- Reported Region
- Sri Lanka
- Ticker
- TSL
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- James Searle
- Resource group id
- resource:d96d0f2b924b1fe210d2
Resource Data
- Category
- indicated
- Tonnes
- 88700000
- Grade
- 5.45
- Grade Unit
- %
- Cutoff Grade
- 2
- Cutoff Unit
- % THM
Prior Estimate
- Resource Date
- 2023-03-15
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2023-03-15T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This is a historical Indicated resource estimate from March 2023, presented without new information.
Positive factors
- JORC Compliant
- Indicated Resource
- QP/CP Signed
Negative factors
- Historical Estimate Only
Evidence · table
“5.45”
Context: 88.7
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 3.5 years before this release
indicatedMannar Island Project · ilmeniteTonnes: 88700000Grade: 2.48Grade Unit: %Historical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Mannar Island Project
- Commodity
- ilmenite
- Region
- sri lanka
- Reported Region
- Sri Lanka
- Ticker
- TSL
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- James Searle
- Resource group id
- resource:d96d0f2b924b1fe210d2
Resource Data
- Category
- indicated
- Tonnes
- 88700000
- Grade
- 2.48
- Grade Unit
- %
- Cutoff Grade
- 2
- Cutoff Unit
- % THM
Prior Estimate
- Resource Date
- 2023-03-15
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2023-03-15T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This is a historical Indicated resource estimate from March 2023, presented without new information.
Positive factors
- JORC Compliant
- Indicated Resource
- QP/CP Signed
Negative factors
- Historical Estimate Only
Evidence · table
“2.48”
Context: 88.7
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 3.5 years before this release
indicatedMannar Island Project · leucoxeneTonnes: 88700000Grade: 0.44Grade Unit: %Historical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Mannar Island Project
- Commodity
- leucoxene
- Region
- sri lanka
- Reported Region
- Sri Lanka
- Ticker
- TSL
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- James Searle
- Resource group id
- resource:d96d0f2b924b1fe210d2
Resource Data
- Category
- indicated
- Tonnes
- 88700000
- Grade
- 0.44
- Grade Unit
- %
- Cutoff Grade
- 2
- Cutoff Unit
- % THM
Prior Estimate
- Resource Date
- 2023-03-15
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2023-03-15T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This is a historical Indicated resource estimate from March 2023, presented without new information.
Positive factors
- JORC Compliant
- Indicated Resource
- QP/CP Signed
Negative factors
- Historical Estimate Only
Evidence · table
“0.44”
Context: 88.7
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 3.5 years before this release
indicatedMannar Island Project · rutileTonnes: 88700000Grade: 0.1Grade Unit: %Historical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Mannar Island Project
- Commodity
- rutile
- Region
- sri lanka
- Reported Region
- Sri Lanka
- Ticker
- TSL
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- James Searle
- Resource group id
- resource:d96d0f2b924b1fe210d2
Resource Data
- Category
- indicated
- Tonnes
- 88700000
- Grade
- 0.1
- Grade Unit
- %
- Cutoff Grade
- 2
- Cutoff Unit
- % THM
Prior Estimate
- Resource Date
- 2023-03-15
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2023-03-15T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This is a historical Indicated resource estimate from March 2023, presented without new information.
Positive factors
- JORC Compliant
- Indicated Resource
- QP/CP Signed
Negative factors
- Historical Estimate Only
Evidence · table
“0.10”
Context: 88.7
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 3.5 years before this release
indicatedMannar Island Project · zirconTonnes: 88700000Grade: 0.11Grade Unit: %Historical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Mannar Island Project
- Commodity
- zircon
- Region
- sri lanka
- Reported Region
- Sri Lanka
- Ticker
- TSL
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- James Searle
- Resource group id
- resource:d96d0f2b924b1fe210d2
Resource Data
- Category
- indicated
- Tonnes
- 88700000
- Grade
- 0.11
- Grade Unit
- %
- Cutoff Grade
- 2
- Cutoff Unit
- % THM
Prior Estimate
- Resource Date
- 2023-03-15
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2023-03-15T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This is a historical Indicated resource estimate from March 2023, presented without new information.
Positive factors
- JORC Compliant
- Indicated Resource
- QP/CP Signed
Negative factors
- Historical Estimate Only
Evidence · table
“0.11”
Context: 88.7
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 3.5 years before this release
indicatedMannar Island Project · garnetTonnes: 88700000Grade: 0.58Grade Unit: %Historical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Mannar Island Project
- Commodity
- garnet
- Region
- sri lanka
- Reported Region
- Sri Lanka
- Ticker
- TSL
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- James Searle
- Resource group id
- resource:d96d0f2b924b1fe210d2
Resource Data
- Category
- indicated
- Tonnes
- 88700000
- Grade
- 0.58
- Grade Unit
- %
- Cutoff Grade
- 2
- Cutoff Unit
- % THM
Prior Estimate
- Resource Date
- 2023-03-15
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2023-03-15T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This is a historical Indicated resource estimate from March 2023, presented without new information.
Positive factors
- JORC Compliant
- Indicated Resource
- QP/CP Signed
Negative factors
- Historical Estimate Only
Evidence · table
“0.58”
Context: 88.7
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 3.5 years before this release
inferredMannar Island Project · heavy mineralsTonnes: 98400000Grade: 5.27Grade Unit: %Historical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Mannar Island Project
- Commodity
- heavy minerals
- Region
- sri lanka
- Reported Region
- Sri Lanka
- Ticker
- TSL
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- James Searle
- Resource group id
- resource:47abf46bca7fdbfa4911
Resource Data
- Category
- inferred
- Tonnes
- 98400000
- Grade
- 5.27
- Grade Unit
- %
- Cutoff Grade
- 2
- Cutoff Unit
- % THM
Prior Estimate
- Resource Date
- 2023-03-15
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2023-03-15T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This is a historical Inferred resource estimate from March 2023, presented without new information.
Positive factors
- JORC Compliant
- QP/CP Signed
Negative factors
- Historical Estimate Only
- Inferred Resource
Evidence · table
“5.27”
Context: 98.4
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 3.5 years before this release
inferredMannar Island Project · ilmeniteTonnes: 98400000Grade: 2.48Grade Unit: %Historical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Mannar Island Project
- Commodity
- ilmenite
- Region
- sri lanka
- Reported Region
- Sri Lanka
- Ticker
- TSL
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- James Searle
- Resource group id
- resource:47abf46bca7fdbfa4911
Resource Data
- Category
- inferred
- Tonnes
- 98400000
- Grade
- 2.48
- Grade Unit
- %
- Cutoff Grade
- 2
- Cutoff Unit
- % THM
Prior Estimate
- Resource Date
- 2023-03-15
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2023-03-15T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This is a historical Inferred resource estimate from March 2023, presented without new information.
Positive factors
- JORC Compliant
- QP/CP Signed
Negative factors
- Historical Estimate Only
- Inferred Resource
Evidence · table
“2.48”
Context: 98.4
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 3.5 years before this release
inferredMannar Island Project · leucoxeneTonnes: 98400000Grade: 0.4Grade Unit: %Historical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Mannar Island Project
- Commodity
- leucoxene
- Region
- sri lanka
- Reported Region
- Sri Lanka
- Ticker
- TSL
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- James Searle
- Resource group id
- resource:47abf46bca7fdbfa4911
Resource Data
- Category
- inferred
- Tonnes
- 98400000
- Grade
- 0.4
- Grade Unit
- %
- Cutoff Grade
- 2
- Cutoff Unit
- % THM
Prior Estimate
- Resource Date
- 2023-03-15
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2023-03-15T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This is a historical Inferred resource estimate from March 2023, presented without new information.
Positive factors
- JORC Compliant
- QP/CP Signed
Negative factors
- Historical Estimate Only
- Inferred Resource
Evidence · table
“0.40”
Context: 98.4
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 3.5 years before this release
inferredMannar Island Project · rutileTonnes: 98400000Grade: 0.11Grade Unit: %Historical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Mannar Island Project
- Commodity
- rutile
- Region
- sri lanka
- Reported Region
- Sri Lanka
- Ticker
- TSL
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- James Searle
- Resource group id
- resource:47abf46bca7fdbfa4911
Resource Data
- Category
- inferred
- Tonnes
- 98400000
- Grade
- 0.11
- Grade Unit
- %
- Cutoff Grade
- 2
- Cutoff Unit
- % THM
Prior Estimate
- Resource Date
- 2023-03-15
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2023-03-15T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This is a historical Inferred resource estimate from March 2023, presented without new information.
Positive factors
- JORC Compliant
- QP/CP Signed
Negative factors
- Historical Estimate Only
- Inferred Resource
Evidence · table
“0.11”
Context: 98.4
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 3.5 years before this release
inferredMannar Island Project · zirconTonnes: 98400000Grade: 0.13Grade Unit: %Historical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Mannar Island Project
- Commodity
- zircon
- Region
- sri lanka
- Reported Region
- Sri Lanka
- Ticker
- TSL
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- James Searle
- Resource group id
- resource:47abf46bca7fdbfa4911
Resource Data
- Category
- inferred
- Tonnes
- 98400000
- Grade
- 0.13
- Grade Unit
- %
- Cutoff Grade
- 2
- Cutoff Unit
- % THM
Prior Estimate
- Resource Date
- 2023-03-15
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2023-03-15T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This is a historical Inferred resource estimate from March 2023, presented without new information.
Positive factors
- JORC Compliant
- QP/CP Signed
Negative factors
- Historical Estimate Only
- Inferred Resource
Evidence · table
“0.13”
Context: 98.4
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 3.5 years before this release
inferredMannar Island Project · garnetTonnes: 98400000Grade: 0.41Grade Unit: %Historical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Mannar Island Project
- Commodity
- garnet
- Region
- sri lanka
- Reported Region
- Sri Lanka
- Ticker
- TSL
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- James Searle
- Resource group id
- resource:47abf46bca7fdbfa4911
Resource Data
- Category
- inferred
- Tonnes
- 98400000
- Grade
- 0.41
- Grade Unit
- %
- Cutoff Grade
- 2
- Cutoff Unit
- % THM
Prior Estimate
- Resource Date
- 2023-03-15
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2023-03-15T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This is a historical Inferred resource estimate from March 2023, presented without new information.
Positive factors
- JORC Compliant
- QP/CP Signed
Negative factors
- Historical Estimate Only
- Inferred Resource
Evidence · table
“0.41”
Context: 98.4
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 3.5 years before this release
higher-grade zoneMannar Island Project · heavy mineralsTonnes: 145600000Grade: 4.48Grade Unit: %Historical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Mannar Island Project
- Commodity
- heavy minerals
- Region
- sri lanka
- Reported Region
- Sri Lanka
- Ticker
- TSL
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- James Searle
- Resource group id
- resource:11e177220cf1cf0664fc
- Deposit or zone
- higher-grade zone
Resource Data
- Tonnes
- 145600000
- Grade
- 4.48
- Grade Unit
- %
- Cutoff Grade
- 2
- Cutoff Unit
- % THM
Prior Estimate
- Resource Date
- 2023-03-15
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2023-03-15T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This is a historical estimate for a higher-grade zone from March 2023, presented without new information.
Positive factors
- JORC Compliant
- QP/CP Signed
Negative factors
- Historical Estimate Only
Evidence · text
“Using the 2% lower cut off the higher-grade resource contains 145.6Mt at 4.48% THM (Table 2)”
Tags used in scoring
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 3.5 years before this release
higher-grade zoneMannar Island Project · heavy mineralsTonnes: 82000000Grade: 6.03Grade Unit: %Historical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Mannar Island Project
- Commodity
- heavy minerals
- Region
- sri lanka
- Reported Region
- Sri Lanka
- Ticker
- TSL
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- James Searle
- Resource group id
- resource:618f7b81ddd8959c5146
- Deposit or zone
- higher-grade zone
Resource Data
- Tonnes
- 82000000
- Grade
- 6.03
- Grade Unit
- %
- Cutoff Grade
- 3
- Cutoff Unit
- % THM
Prior Estimate
- Resource Date
- 2023-03-15
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2023-03-15T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This is a historical estimate for a higher-grade zone at a higher cut-off from March 2023, presented without new information.
Positive factors
- JORC Compliant
- QP/CP Signed
Negative factors
- Historical Estimate Only
Evidence · text
“for a 3% lower cut off (Table 3) 82.0Mt at 6.03% THM.”
Tags used in scoring
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 3.5 years before this release
Fact 16IndiaView all detailsHide details
Identity
- Project
- India
- Region
- china
- Reported Region
- China
- Ticker
- TSL
Resource scope
- Estimate type
- resource
- Resource group id
- resource:69cef0cbd70690bd63ed
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: Explicit resource disclosure recovered from source prose.
Evidence · text
“Table 1 Mineral Resource Estimate based on a 2% THM lower cut off.”
Tags used in scoring
Cut-off Lowerednegative
Cut-off grade significantly reduced vs prior estimate — tonnage growth may be artificial inflation.
Why it applies: Table 1 Mineral Resource Estimate based on a 2% THM lower cut off.
Evidence · text
“Table 1 Mineral Resource Estimate based on a 2% THM lower cut off.”
Context: India, China
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.